Gold Steady as Markets Eye Trump-Xi Meeting
Gold slipped to around $3,370 per ounce on Tuesday but remained near a four-week high, supported by ongoing safe-haven demand. The metal surged 2.8% on Monday, its strongest daily gain since May 6, amid escalating trade and geopolitical tensions. President Trump announced plans to double tariffs on steel and aluminum, while U.S.-China tensions rose after he accused China of breaking a trade deal. Markets now await a possible meeting between Trump and President Xi. Meanwhile, Russia and Ukraine resumed peace talks on Monday, though little progress was made.
The first critical support for gold is seen at $3320 and the first resistance is located at $3385.
